Question 1

What must an agent do if they receive an undisclosed bonus from a seller to incentivize closing by a certain date?

Options :

A : The agent can accept the bonus without any disclosure requirements.

B : The agent must disclose the bonus to any buyers they are working with on the transaction.

C : The agent should keep the bonus confidential and not inform the broker.

D : The agent should pay the bonus to the broker.

Answer: B

Question 2

When a client understands what dual agency is and agrees in writing to allow a firm to act as a dual agent for them in a real estate transaction, this is known as __.

Options :

A : Double dipping

B : Informed consent

C : Mutual agreement

D : Representation by proxy

Answer: B

Question 3

What type of license will you receive if you have a supervising broker at the time of application?

Options :

A : Active license

B : Brokers license

C : Firm license

D : Inactive license

Answer: A

Question 4

Which of the following best describes the concept of appreciation?

Options :

A : When a property's value increases as a result of capital improvements.

B : When losses are deducted from a property's value for tax purposes.

C : When the value of a property decreases over time.

D : When the value of a property increases over time.

Answer: D

Question 5

What zoning action reduces density or development intensity?

Options :

A : Bulk zoning

B : Density-reduction zoning

C : Downzoning

D : Reduction zoning

Answer: C